First, following a somewhat common idea in MMORPGs, players must choose a nation with which to align. The countries revealed thus far include Netzawal, ruled by the Beast King Hyunkel; Elsord, ruled by the Wise King Naius Elsord; Holdein, ruled by the Lady General Wadriti Berkstein Holdein; and the Gebrand Empire, ruled by Raiel Ku'belda Gebrand. The story revolves around these five groups fighting over which of them will govern Esucetia, the sixth continent. After choosing a homeland, one must select a character type. The choices available are Warrior, Berserker, Shadow-walker, Hunter, Sorcerer, Priest, and Rune Blade. Among the visual customization options for said characters are seven different facial structures, seven hairstyles, five body types, and five different colors for eyes and hair. Within each job exists another handful of outfits with which to customize the avatar.

New gameplay revelations have stated that crystals will play a large role in the world of Fantasy Earth. Popular myth has the whole world birthed from one giant crystal, while the smaller variety can be found by players and used as sources of power. One such use comes in the form of mastering new skills, while another is related to the building of forts. When a players collects enough crystals, a tactical move can be made by building one of eight different types of forts. Of course, in a game such as this in which player vs. player combat is a central focus, one would best be advised to use caution in building, as other players will be doing their best to destroy the structure. It will be possible to use the terrain to one's advantage when planning the fort-construction, which adds to the strategic apects of the gameplay. As things currently stand, any type of fort can be built on any type of battle map.

Fantasy Earth is currently on track to release in Japan at an unspecified time in 2005. Although Square Enix has trademarked the game's title in North America, no official plans have been announced for such a localization.